Johannesburg, South Africa – Today, Sasol announced that Sasol Inzalo, Sasol’s landmark broad-based black economic empowerment (B-BBEE) transaction, has been partially refinanced, which will make a significant contribution to reducing its financing costs.
The refinancing will see shareholders of Sasol Inzalo Public Limited (RF) (Sasol Inzalo Public) and Sasol Inzalo Groups Limited (RF) (Sasol Inzalo Groups) benefitting from a reduction in the dividend rate on the C preference shares used for the funding special purpose vehicles (SPV’s) of these companies. The result is a more favourable rate of 68% of the prime interest rate compared to the previous 80,3% of the prime interest rate.
The D preference shares have also been redeemed from the purchase price received for the additional C preference shares issued to the current holders of the C preference shares. Shareholders will benefit from an equivalent reduction in the interest rate on this tranche of the debt.
“This is a significant step in reaffirming Sasol Inzalo as an attractive investment option for shareholders and potential shareholders. We firmly believe in the long-term investment value of Sasol Inzalo,” said Nolitha Fakude, Executive Director and Executive Vice President: Sustainability and Human Resources, Sasol Limited.
“We are committed to our shareholders and want to take every step possible to ensure we achieve our objective of giving South Africans the opportunity to benefit from this transaction,” said Fakude.
Sasol Inzalo Public has approximately 214 000 shareholders, making it one of the largest broad-based black empowerment transactions in South Africa. It was established in 2008 when one of the choices offered to qualifying South Africans was participating in a funded invitation to become shareholders in this entity. Sasol Inzalo Public holds approximately 16 million shares in Sasol Limited.
Sasol Inzalo Public ordinary shareholders are also entitled to trade their shares. For more information log on to www.sasolinzalotrading.com, or contact Computershare Investor Services on the contact details below.
Sasol Inzalo Public ordinary shareholders are encouraged to keep their banking and contact information up to date by contacting Computershare on 0800 000 222 or by email on email@example.com.
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